OTTAWA: The Canadian Imperial Bank of Commerce (CIBC) on Wednesday made a US$3.8 billion offer to buy Chicago-based investment bank PrivateBancorp as it looks to expand in the US. CIBC expects to pay US$1.5 billion in cash and issue 29.5 million shares to finance the acquisition, it said in a statement. PrivateBancorp operates in 12 US states and manages assets totaling US$17.7 billion. The takeover bid is expected to be finalized early next year.
Ogra allows Cnergyico to export 40,000 tonnes furnace oil in April as surplus builds
ISLAMABAD: Oil and Gas Regulatory Authority (OGRA) has approved export of up to 40,000 metric tonnes of furnace oil for...
